Let’s say you want a new credit card because it offers greater spending convenience than other payment methods. You’d like to use your new credit card for just about all purchases and bill payments, paying it off in full at the end of each month (maybe getting rewards points in the process).

That’s all well and good, but what happens if your card’s credit limit isn’t high enough to cover all of your regular monthly spending? Or maybe you’re just a big spender in general or even in need of a higher credit limit for a business card rather than a personal option.

If either of those sounds like you, you might want to turn your attention to high limit credit cards (which we’ll consider anything with a limit of at least $25,000).

High Credit Limit Card Examples

Let’s take a look at some examples from Citibank.

• Citibank Gold Credit Card — Credit limits up to $60,000
• CitiBusiness Credit Card — Credit limits up to $60,000
• Citibank Platinum Credit Card — Credit limits up to $100,000

It’s important to note that just because credit cards offer these potentially high credit limits, it doesn’t mean you’ll be eligible for them. You can still be approved for the credit card itself, but be approved for a lower limit. Your actual credit limit will depend on your current annual income and your credit history.

An Alternative to High Limit Credit Cards

What if your spending fluctuates often (which can be common especially in business)? What if you need even more flexibility than a high credit limit can offer? You have another option.

American Express offers several cards that don’t have any pre-set spending limits at all. Two examples include the:

• American Express Platinum card;
• American Express Gold Business card.

How do these types of cards work if you don’t have a credit limit? Well, they’re not technically “credit cards” but instead “charge cards.” You don’t have a credit limit, and you don’t have to worry about interest rates. But in exchange, you’re expected to pay off your balance in full every month.

Charge cards are used for convenience and they can offer some of the same perks and rewards as credit cards, but they aren’t meant to be used for extended financing like credit cards where balances can be paid off more slowly over time.

Not having a credit limit doesn’t mean you have unlimited spending power though. Your purchases will simply be approved on a case-by-case basis based on your history with the issuer, your financial means and assets known to them, and your usual spending patterns (so you should notify them ahead of time if you plan to make an unusually large purchase). But if traditional credit cards don’t quite meet your needs even with a high credit limit, these charge cards may be a good option.